224 University DrEdinburg, TX 78539

Property Details for 224 University Dr

Year built

1938

Lot size

0.08 AC

Property size (Sq ft)

3,356 SF

Zone code

C3

Property type

Strip malls

Property subtype

Neighborhood centers

APN

E3300-00-252-0007-00

APU

E330000252000700

Description

This exceptional 3,356 square foot freestanding office building presents a unique investment opportunity in the heart of Edinburg, Texas. Located at 224 E. University Dr., this single-story, Class C property boasts a prime location in the Downtown District, just steps from the Hidalgo County Courthouse. Built in 1938, the building sits on a 0.08-acre lot and is currently vacant, offering immediate occupancy for a new owner. The permitted zoning is C, allowing for a variety of uses, including retail, office, or other professional services. With its high visibility at the corner of University Drive and 13th Avenue, this property benefits from significant foot and vehicular traffic, ensuring excellent exposure for any business. The asking price is $375,000, translating to $111.74 per square foot. This represents a compelling opportunity to acquire a well-situated property in a thriving Texas city with strong potential for immediate return on investment. The building's size and location make it ideal for a variety of businesses seeking a prominent presence in the Edinburg area. Don't miss this chance to own a piece of Edinburg's vibrant downtown. The property is zoned for commercial use and offers significant potential for growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $677,939

  6.5%

  $625,790

  7%

  $581,090

• Comparable approach

  Method

  Valuation

  Relative Method

  $729,268

  Geo Method

  $1,922,050

• Alternative Use

  Use

  Valuation

  Residential

  $527,877

  Hospitality

  $483,532

  Educational

  $402,293

  Medical

  $416,129

  Retail

  $625,790

Location Insight

City

Edinburg

County

Hidalgo

State

Texas

Latitude

26.3008

Longitude

-98.1603

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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